Economic Inclusion of Other Backward Classes: A Long Way to Go

The National Backward Classes Finance Development Corporation loan schemes in Maharashtra have positively benefitted the beneficiaries as they were able to raise income and create assets. But there are some serious limitations. Half of the beneficiaries did not have experience or training in business activity, the waiting period for actual disbursement was one to two years and beneficiaries were weak in marketing their products. Though there is exclusive institutional financial network developed for the other backward classes, their economic inclusion is still a long way to go as loan schemes have not reached to the poorer, weaker sections and women of these communities to a considerable extent.